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Markit to Acquire Prism Valuation

20.06.2016 02:30 pm

Markit to Acquire Prism Valuation

M&A Deals

Markit, a leading global provider of financial information services, today announced that it has agreed to acquire Prism Valuation a leading provider of independent valuation and risk analysis of derivatives and structured products.

The acquisition will complement Markit’s leading Portfolio Valuations service and enable Markit to offer customers enhanced coverage of complex OTC derivatives and structured OTC products. It will also expand Markit’s customer base among regional banks and structured product issuers.

Keldon Drudge, founder and ceo of Prism Valuation, said: “Markit’s scale and global reach will allow us to better support our customers and will also accelerate innovation and further development of our platform. Our shared focus on providing independent, high quality valuations will help firms comply with evolving regulatory requirements and satisfy investors’ risk management demands.”

The acquisition is expected to close in the coming weeks. Financial terms were not disclosed. The transaction will not have a material impact on Markit’s financial results in 2016. Following completion of the acquisition, Prism Valuation will be integrated with Markit Portfolio Valuations in the Valuation and Trading Services segment of Markit’s Information division.